GlobeNewswire Inc | Sep 17, 2020 08:30AM EDT

September 17, 2020

SALT LAKE CITY, Sept. 17, 2020 (GLOBE NEWSWIRE) -- Overstock.com, Inc. (NASDAQ:OSTK), a leading ecommerce home furnishings retailer,recently opened a new fulfillment center in Fontana, California, in partnership with UPS Supply Chain Services. The new fulfillment center further aligns Overstocks logistical footprint with key customers, significantly improving shipping speed, providing more accurate delivery estimates as well as a quicker port to warehouse process.

This California fulfillment center positions us to provide a better delivery process to our customers, said Ron Hilton, Chief Sourcing and Operations Officer at Overstock.com. Its close proximity to major ports, as well as its centralized location in one of our largest markets made Fontana ideal to create a more efficient bridge between our suppliers and our customers. Im proud of our teams effort as they continue to enhance the sophisticated and robust supply chain and operations process we have in place.

Overstocks customer focus has centered the retailer on helping shoppers easily find the products they are looking for at a smart value and with easy delivery and support. With customers in mind, Overstock operates strategically positioned fulfillment centers in Pennsylvania and Kansas in addition to its new California facility. These centers, grouped with a network of thousands of partner warehouses across the country and proprietary fulfillment software, help ensure fast, accurate, and secure delivery to customers.

Overstock prides itself on providing customers a fast, free and predictable delivery experience, said Dave Nielsen, Overstock.com President. As sales continue to grow with increased customer migration online, our new California facility improves the customer experience through faster delivery speed in one of Overstocks largest markets.

The Fontana, California fulfillment center commenced operations on August 3, 2020.

For more information on Overstock and its subsidiaries, visit the companys newsroom and investor relations page.

About OverstockOverstock.com, IncCommon Stock (NASDAQ:OSTK) / Series A-1 Preferred Stock (tZERO ATS:OSTKO) / Series B Preferred Stock (OTCQX:OSTBP)is an online retailer and technology company based inSalt Lake City, Utah. Its leading e-commerce website sells a broad range of new home products at low prices, including furniture, dcor, rugs, bedding, home improvement, and more. The online shopping site, which is visited by tens of millions of customers a month, also features a marketplace providing customers access to millions of products from third-party sellers. Overstock was the first major retailer to accept cryptocurrency in 2014, and in the same year foundedMedici Ventures, its wholly owned subsidiary dedicated to the development and acceleration of blockchain technologies to democratize capital, eliminate middlemen, and re-humanize commerce. Overstock regularly posts information about the Company and other related matters on theNewsroomandInvestor Relationspages on its website,Overstock.com.

O, Overstock.com, O.com, Club O, and Worldstock are registered trademarks of Overstock.com, Inc. Other service marks, trademarks and trade names which may be referred to herein are the property of their respective owners.

This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements include all statements other than statements of historical fact, including but not limited to statements regarding the California Fulfillment Center. Additional information regarding factors that could materially affect results and the accuracy of the forward-looking statements contained herein may be found in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on March 13, 2020, in our Form 10-Q for the quarter ended March 31, 2020, which was filed with the SEC on May 7, 2020, in our Form 10-Q for the quarter ended June 30, 2020, which was filed with the SEC on August 6, 2020, and in our subsequent filings with the SEC.

SOURCE:Overstock.com, Inc.

Contacts

Investor Relations: Media:Alexis Callahan Overstock Media Relations801-947-5126 801-947-3564ir@overstock.com pr@overstock.com